Piper Sandler Issues Pessimistic Forecast for National Bank (NYSE:NBHC) Stock Price

National Bank (NYSE:NBHC) had its price objective lowered by Piper Sandler from $51.00 to $49.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 25.03% from the stock’s previous close.

Several other analysts have also commented on NBHC. Zacks Research lowered shares of National Bank from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 23rd. Stephens lowered National Bank from an “overweight” rating to an “equal weight” rating and set a $46.00 target price for the company. in a research report on Thursday, August 6th. Finally, Weiss Ratings lowered National Bank from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, National Bank currently has an average rating of “Hold” and a consensus price target of $47.00.

National Bank Price Performance

Shares of National Bank stock opened at $39.19 on Thursday. The business has a 50 day moving average of $41.82 and a 200 day moving average of $42.02. National Bank has a 52 week low of $35.06 and a 52 week high of $47.28. The company has a market cap of $1.75 billion, a PE ratio of 16.47 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.20.

National Bank (NYSE:NBHC) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The company had revenue of $129.94 million for the quarter, compared to analysts’ expectations of $135.08 million. National Bank had a net margin of 15.11% and a return on equity of 8.35%. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. As a group, equities research analysts forecast that National Bank will post 3.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of National Bank by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,100,944 shares of the financial services provider’s stock worth $82,271,000 after acquiring an additional 40,669 shares during the last quarter. Kennedy Capital Management LLC grew its position in National Bank by 39.0% during the 4th quarter. Kennedy Capital Management LLC now owns 505,333 shares of the financial services provider’s stock valued at $19,208,000 after purchasing an additional 141,726 shares during the last quarter. Bank of New York Mellon Corp grew its position in National Bank by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 343,744 shares of the financial services provider’s stock valued at $13,461,000 after purchasing an additional 11,010 shares during the last quarter. Sei Investments Co. increased its stake in National Bank by 5.9% during the 1st quarter. Sei Investments Co. now owns 337,005 shares of the financial services provider’s stock valued at $13,197,000 after purchasing an additional 18,785 shares in the last quarter. Finally, North Reef Capital Management LP purchased a new position in National Bank in the first quarter worth about $12,545,000. Institutional investors own 92.65% of the company’s stock.

About National Bank

National Bank Holdings Corporation (NYSE: NBHC) is a bank holding company headquartered in Greenwood Village, Colorado. Through its principal subsidiary, NBH Bank, the company provides community banking services to businesses, individuals and organizations.

NBH Bank offers commercial and small-business lending, personal and business deposit accounts, mortgage and consumer loans, treasury management, digital banking and wealth management services. Its products are designed to support commercial clients, professionals, entrepreneurs and retail customers.

The company serves customers through a network of banking locations and digital channels in several markets across the central and western United States, including Colorado, Kansas, Missouri, New Mexico, Texas and Wyoming.